DANBURY, Conn.--(BUSINESS WIRE)--IMS Health (NYSE:IMS) has been named a leader in IDC Health Insights’ assessment of social media and analytics software and services offerings available to the life sciences industry. The report, IDC MarketScape: Worldwide Life Science Social Media Analytics 2014 Vendor Assessment (doc # HI252646, December 2014), names IMS Health as a leader for Nexxus™ Social, its best-in-class SaaS solution that monitors and integrates information from tens of millions of social media sources worldwide — providing structure and insights that can be used by life sciences companies to inform key regulatory compliance and commercial decision-making processes.
The IDC MarketScape report points out that Nexxus Social supports 52 languages and includes “some of the most life science–specific functionality available in social media analytics software today by any vendor, and is considered by its customers to be very user friendly and easy to use.” The report also cites IMS Health’s industry-specific expertise, strong customer references and proven expertise in delivering measurable value to clients. The findings were based on a six-month evaluation of social media analytics software and service offerings.
“Life science companies view social media analytics as an effective tool for investigating competitive pricing and promotions, evaluating therapeutic category of consumer trends and related products, and measuring corporate- and brand-specific consumer perceptions,” said Eric Newmark, program director of IDC Health Insights’ Life Science Business Systems Strategy service. “While dozens of vendors offer these services, few have true proven success in delivering it.”
Nexxus Social, part of IMS Health’s NexxusTM Commercial Application Suite, automates social media monitoring and evaluation of social media content, helping to transform this new source of unstructured data into actionable insights. Its algorithms use semantic — not keyword — search and proprietary ontologies, including patient language and Natural Language Processing (NLP), to capture patient and physician perceptions of treatments on social networks. The ability to quickly and efficiently harness and act on social media insights can be a significant advantage in developing enhanced patient engagement and clinical programs to improve health outcomes.
“Scanning the digital landscape, listening to patients and taking actions based on more timely insights have become critical elements of commercial strategies for the life sciences industry. We’re pleased to be recognized as a leader in this space by IDC MarketScape,” said Siva Nadarajah, general manager, Social Media, IMS Health.
About IMS Health
IMS Health is a leading global information and technology services company providing clients in the healthcare industry with comprehensive solutions to measure and improve their performance. By applying sophisticated analytics and proprietary application suites hosted on the IMS One™ intelligent cloud, the company connects more than 10 petabytes of complex healthcare data on diseases, treatments, costs and outcomes to help its clients run their operations more efficiently. More than 10,000 employees drive results for over 5,000 healthcare clients across 100 countries, drawing on information from 100,000 suppliers and insights from more than 55 billion healthcare transactions processed annually. Customers include pharmaceutical, consumer health and medical device manufacturers and distributors, providers, payers, government agencies, policymakers, researchers and the financial community.
As a global leader in protecting individual patient privacy, IMS Health uses anonymous healthcare data to deliver critical, real-world disease and treatment insights. These insights help biotech and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders to identify unmet treatment needs and understand the effectiveness and value of pharmaceutical products in improving overall health outcomes. Additional information is available at www.imshealth.com.
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.